The priority of the lien
of a mortgage may be waived to the extent specified by the holder of the lien
in favor of any lien, mortgage, lease, easement, or other interest in the
property covered by the mortgage, by writing the waiver of priority on the
original mortgage and signing it, by writing the waiver of priority upon the
margin of the record of that mortgage and signing it, or by a separate
instrument acknowledged as provided by section 5301.01 of the Revised Code.
That waiver, when recorded upon the margin of the record of the mortgage, or
when recorded as a separate instrument, is constructive notice to all persons
dealing with either the property described in that mortgage or the mortgage
itself from the date of filing the waiver for record. The waiver, if written
upon the mortgage or upon the margin of the record of the mortgage, need not be
acknowledged, but if written upon the margin of the record, the signing shall
be attested by the county recorder.

If the waiver of priority
is by separate instrument, it shall be recorded in the
official records of the county recorder. For the
recording, the county recorder may charge the fee as provided by section 317.32
of the Revised Code for recording deeds. For entering any waiver of priority
upon the margin of the record of the mortgage, or for attesting it, the
county recorder is entitled to the fees for
recording those waivers of priority that are charged for assignments or
satisfactions of mortgages under section 317.32 of the Revised Code.

In a county in which the
county recorder has determined to use the microfilm process as provided by
section 9.01 of the Revised Code, the county
recorder may require that all waivers of priority of mortgages be made by
separate instrument. The original instrument bearing the proper endorsement may
be used as such separate instrument.